Estonia Inflation May 2019

Estonia: Inflation inches down in May

June 14, 2019

Consumer prices rose 0.2% from the previous month in May, decelerating markedly from April’s 1.3% rise—which had marked the strongest monthly increase in over two years. A breakdown of the sub-components provided by Statistics Estonia showed that 8 of the total 12 saw a rise in prices, led by hotels, cafes and restaurants, health, and food products, which more than offset marginally lower prices for transport.

Inflation ticked down from 3.2% in April to 3.1% in May. Meanwhile, annual average inflation remained unchanged at the previous month’s 3.3% in May. Lastly, harmonized inflation inched down from 3.2% in April to 3.1% in May.

FocusEconomics panelists project harmonized inflation to average 2.5% in 2019, which is unchanged from last month’s forecast. For 2020 they expect inflation to average 2.6%.

Author:Almanas Stanapedis, Economist

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The economy grew 3.6% in annual terms in the second quarter, decelerating markedly from the first quarter’s 5.0% expansion, according to a comprehensive estimate released by Estonia’s Statistical Institute on 30 August.

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